AT&T Inc. (NYSE:T) Position Boosted by NewEdge Wealth LLC

NewEdge Wealth LLC increased its holdings in AT&T Inc. (NYSE:T) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,864 shares of the technology company’s stock after purchasing an additional 6,553 shares during the quarter. NewEdge Wealth LLC’s holdings in AT&T were worth $1,682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in T. Reston Wealth Management LLC acquired a new stake in AT&T during the 3rd quarter worth about $35,000. Principal Securities Inc. increased its position in shares of AT&T by 7.5% in the third quarter. Principal Securities Inc. now owns 118,379 shares of the technology company’s stock worth $2,604,000 after acquiring an additional 8,280 shares in the last quarter. Gladstone Institutional Advisory LLC raised its holdings in shares of AT&T by 48.0% during the third quarter. Gladstone Institutional Advisory LLC now owns 71,092 shares of the technology company’s stock valued at $1,564,000 after acquiring an additional 23,052 shares during the period. Americana Partners LLC lifted its position in shares of AT&T by 2.1% in the 3rd quarter. Americana Partners LLC now owns 114,286 shares of the technology company’s stock valued at $2,514,000 after acquiring an additional 2,298 shares in the last quarter. Finally, Eads & Heald Wealth Management purchased a new stake in shares of AT&T in the 3rd quarter valued at approximately $238,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 29th. Citigroup lifted their price target on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Sanford C. Bernstein increased their price objective on AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research note on Thursday, February 13th. Finally, Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $28.00 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.33.

AT&T Price Performance

Shares of NYSE:T opened at $27.45 on Friday. The stock has a market capitalization of $197.01 billion, a P/E ratio of 18.42, a P/E/G ratio of 3.00 and a beta of 0.59. The business has a 50-day moving average of $23.91 and a two-hundred day moving average of $22.56. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.49. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio is currently 74.50%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.